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CMS Advises Arkad Consortium on Amendment of Balkan Stream Gas Pipeline Construction Contract

CMS Advises Arkad Consortium on Amendment of Balkan Stream Gas Pipeline Construction Contract

Bulgaria
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CMS has advised the Italian-Saudi Arabian Arkad Consortium on the amendment and supplement of a public procurement agreement for the procurement of necessary materials and equipment, investment design-phase detailed design, construction, and commissioning of the Balkan Stream gas pipeline project.

According to CMS, “the contract’s value is EUR 1.1 billion and the original schedule of the implementation of the project provided that it should have been completed within 615 days. The amendment to the agreement deals with the consequences of the occurrence of COVID-19 force majeure, which significantly impacted Italy and the operation, productions, and works carried out by one of the partners and subcontractors to the consortium.”

CMS’s team in Sofia included Managing Partner Kostadin Sirleshtov, Senior Associates Denitsa Dudevska and Maria Lazarova, Associate Borislava Piperkova, and Trainee Diyan Georgiev, while the firm’s team in Italy included Managing Partner Pietro Cavasola and Associate Federica Turetta.

Bulgaria Knowledge Partner

Schoenherr is a leading full-service law firm providing local and international companies stellar advice that is straight to the point. With 15 offices and 4 country desks Schoenherr has a firm footprint in Central and Eastern Europe. Our lawyers are recognised leaders in their specialised areas and have a track record of getting deals done with a can-do, solution-oriented approach. Quality, flexibility, innovation and practical problem-solving in complex commercial mandates are at the core of our philosophy.

Firm's website: www.schoenherr.eu

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